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Iron ore’s sleeping giant – Simandou moves a step closer to development

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20 November 2019

Iron ore’s sleeping giant – Simandou moves a step closer to development

Report summary

The involvement of the SMB-Winning consortium is a big step forward for the development of Simandou North. Political considerations are paramount, but ultimately much will depend on SMB-Winning’s view of the long term outlook for seaborne iron ore. In particular, will Chinese imports hold close to 1 billion tpy and will India emerge as a major importer of iron ore within the next ten years? One or both of these outcomes is necessary to make the project economically viable.

Table of contents

  • What has happened?
  • What are the Simandou deposits?
  • Project economics
  • Market impact
  • Trans-Guinean or the highway
  • China all but controls Guinean economy
  • Summary
    • Base case:
    • Base case plus Simandou North:
    • Scenario 1 (low Indian imports):
    • Scenario 2 (high Chinese imports):

Tables and charts

This report includes 5 images and tables including:

  • Guinea iron ore deposits
  • A brief history of the Simandou project
  • Iron ore contestable market cost curve 2030 (CFR China, 62% Fe fines equivalent)
  • Simandou North project economics
  • Simandou scenario analysis

What's included

This report contains:

  • Document

    Iron ore’s sleeping giant – Simandou moves a step closer to development

    PDF 1.55 MB

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